IVLU vs. EMLC
IVLU (iShares MSCI International Value Factor ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value Index, while EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Both are passively managed. Over the past 10 years, IVLU returned 11.63%/yr vs 2.28%/yr for EMLC. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
IVLU vs. EMLC - Performance Comparison
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Returns By Period
In the year-to-date period, IVLU achieves a 12.96% return, which is significantly higher than EMLC's 1.40% return. Over the past 10 years, IVLU has outperformed EMLC with an annualized return of 11.63%, while EMLC has yielded a comparatively lower 2.28% annualized return.
IVLU
- 1D
- 0.56%
- 1M
- 2.48%
- YTD
- 12.96%
- 6M
- 14.33%
- 1Y
- 35.32%
- 3Y*
- 23.53%
- 5Y*
- 14.06%
- 10Y*
- 11.63%
EMLC
- 1D
- 0.28%
- 1M
- 1.78%
- YTD
- 1.40%
- 6M
- 2.50%
- 1Y
- 9.22%
- 3Y*
- 6.63%
- 5Y*
- 1.36%
- 10Y*
- 2.28%
IVLU vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVLU iShares MSCI International Value Factor ETF | 12.96% | 46.09% | 6.76% | 20.07% | -5.73% | 15.60% | -4.50% | 15.60% | -15.10% | 23.10% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 1.40% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
Correlation
The correlation between IVLU and EMLC is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2015 | 0.54 |
The correlation between IVLU and EMLC shifts across timeframes, from 0.54 (all time) to 0.72 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IVLU vs. EMLC — Risk / Return Rank
IVLU
EMLC
IVLU vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI International Value Factor ETF (IVLU) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IVLU | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.24 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 1.42 | +1.48 |
| Martin ratioReturn relative to average drawdown | 11.01 | 4.75 | +6.26 |
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Drawdowns
IVLU vs. EMLC - Drawdown Comparison
The maximum IVLU drawdown since its inception was -41.85%, which is greater than EMLC's maximum drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for IVLU and EMLC.
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Drawdown Indicators
| IVLU | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.85% | -32.43% | -9.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.69% | -6.19% | -5.50% |
Max Drawdown (3Y)Largest decline over 3 years | -15.48% | -9.15% | -6.33% |
Max Drawdown (5Y)Largest decline over 5 years | -26.04% | -23.91% | -2.13% |
Max Drawdown (10Y)Largest decline over 10 years | -41.85% | -26.47% | -15.38% |
Current DrawdownCurrent decline from peak | -0.53% | -3.83% | +3.30% |
Average DrawdownAverage peak-to-trough decline | -8.57% | -14.35% | +5.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 1.86% | +1.23% |
Volatility
IVLU vs. EMLC - Volatility Comparison
iShares MSCI International Value Factor ETF (IVLU) has a higher volatility of 5.44% compared to VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) at 2.44%. This indicates that IVLU's price experiences larger fluctuations and is considered to be riskier than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVLU | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 2.44% | +3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 12.85% | 6.17% | +6.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.65% | 7.06% | +8.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 9.14% | +7.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 10.04% | +7.62% |
IVLU vs. EMLC - Expense Ratio Comparison
Both IVLU and EMLC have an expense ratio of 0.30%.
Dividends
IVLU vs. EMLC - Dividend Comparison
IVLU's dividend yield for the trailing twelve months is around 3.28%, less than EMLC's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.16% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
IVLU iShares MSCI International Value Factor ETF | 3.28% | 3.71% | 4.46% | 4.69% | 3.59% | 3.47% | 2.05% | 3.53% | 2.82% | 2.87% | 2.53% | 0.93% |
Frequently Asked Questions
IVLU and EMLC have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVLU has higher volatility (5.44%) compared to EMLC (2.44%). In terms of maximum drawdown, IVLU dropped -41.85% vs EMLC's -32.43%.
On 10-year performance, IVLU leads with 11.63% vs 2.28% for EMLC. Both ETFs have the same 0.30% expense ratio. On volatility, EMLC has been the lower-risk option at 2.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IVLU has performed better with a 11.63% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVLU and EMLC have the same expense ratio: 0.30% per year.
EMLC has the higher dividend yield at 6.16%, compared with 3.28% for IVLU.
IVLU is categorized as Foreign Large Cap Equities, while EMLC is Emerging Markets Bonds. IVLU tracks MSCI World ex USA Enhanced Value Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. They also come from different issuers: iShares and VanEck.
IVLU currently has the higher Sharpe Ratio (2.17 vs 1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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